Really old thread on this topic:
Different tires and wheels? Lower profile? Wider? Taller?
( Unfortunately most of the inline pictures are no longer available in that thread. )
Reiterating what others have said in this thread:
* Lower profile tires can offer "crisper" handling with steering changes responding more quickly.
* Lower profile tires have less room to absorb impacts, so can be more jarring on bumps & potholes.
* Lower profile tires give less wheel protection so are more prone to "curb rash" where one scrapes the wheel when parking.
* Lower profile tires tend to look more aggressive and many people like the appearance.
I think the "aero wheel" option will only be for the 18" wheels.
The 19" wheels are likely the more familiar "fan blade" style.
As much as I like the appearance and driving dynamics of a larger wheel, I might consider the 18" aero wheels because:
* Better aero for the car giving more efficiency and more range.
* Higher profile tire offering better comfort on bumpy roads.
With Model S and air suspension, the suspension can absorb a lot of the bumps that get through the lower profile tires.
But, Model 3 is coming with coil suspension, so it may be less forgiving on bumpy roads with the lower profile tires.
With all of the above said, there are other factors too, like type of tire, level of air pressure, etc.